MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 4,496 Shares of ALLETE, Inc. (NYSE:ALE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 11.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 43,406 shares of the utilities provider's stock after buying an additional 4,496 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.08% of ALLETE worth $2,813,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Lazard Asset Management LLC raised its position in shares of ALLETE by 13.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider's stock valued at $88,000 after buying an additional 164 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of ALLETE by 30.9% during the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider's stock valued at $47,000 after buying an additional 172 shares during the last quarter. Fifth Third Bancorp raised its position in shares of ALLETE by 32.9% during the fourth quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after buying an additional 217 shares during the last quarter. Exchange Traded Concepts LLC raised its position in ALLETE by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,786 shares of the utilities provider's stock worth $764,000 after purchasing an additional 295 shares in the last quarter. Finally, Xponance Inc. raised its position in ALLETE by 4.5% in the fourth quarter. Xponance Inc. now owns 8,198 shares of the utilities provider's stock worth $531,000 after purchasing an additional 356 shares in the last quarter. Institutional investors and hedge funds own 76.55% of the company's stock.

ALLETE Price Performance

NYSE:ALE traded up $0.03 during mid-day trading on Friday, hitting $64.98. The company's stock had a trading volume of 293,555 shares, compared to its average volume of 341,622. ALLETE, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $65.99. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 20.96 and a beta of 0.82. The stock has a fifty day moving average of $65.23 and a 200-day moving average of $65.16.

ALLETE (NYSE:ALE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The firm had revenue of $400.20 million during the quarter, compared to analyst estimates of $456.30 million. During the same quarter in the prior year, the business posted $0.90 earnings per share. The company's quarterly revenue was down .8% compared to the same quarter last year.

ALLETE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, May 15th. ALLETE's dividend payout ratio (DPR) is presently 91.54%.

About ALLETE

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.